Online Casino News From Around the Globe

Vircurex Becomes The Latest Bitcoin Exchange To Implode

Just when you thought it was safe to venture into virtual currencies another Bitcoin exchange is following in the footsteps of Japanese based Mt. Gox. The implosion of Mt. Gox along with hundreds of millions of dollar’s worth of Bitcoins was a major blow to the credibility and stability of virtual currencies. The main appeal of Bitcoin is without a doubt the potential to win big in a short space of time. The volatility of any commodity that can trade from $12 to $1200 in a twelve month period is the ultimate thrill for many investors or more accurately speculators. The latest Bitcoin exchange to announce it will halt all withdrawals of Bitcoin, Litecoin and other virtual currencies is the Beijing-based Vircurex. In a case of de javu ,Vircurex will from tomorrow freeze all user accounts. This is not the first time Vircurex has made the headlines for the wrong reasons as last year they were plagued by two hacking incidents. Now unlike Mt. Goxm Vircurex are not abandoning ship as of now but have come up with some sort of strategy that involves locking down its existing accounts  while gradually paying back the affected customers.  They have come up with what they call “Frozen Funds”. What his means is that customers won’t be able to withdraw or trade in this account but will gradually be paid back. In a statement released Vircurex said,” Unfortunately we had large fund withdrawals in the last weeks which have led to a complete depletion of our cold wallet balance and we are now facing the option of either closing the site with significant unrecoverable losses for all or to work out a solution that allows the exchange to continue to operate and gradually pay back the losses.” This creative” risk management tactic” adopted by Vircurex is based on the premise that new users will continue to sign up with them despite the fact that they are insolvent. It also has to ensure that they are not hacked for a third tine.  Any objective outsider would not give Vircurex a third chance but with Bitcoin mania still at its peak even this shady operation might just beat the odds and continue to...

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Playtika Amongst First Developers In Yahoo’s Games Network

With social gaming at an all-time high and growing by the day it stands to reason that major internet companies like Yahoo want to get in on the action. With revenues reaching $2 billion last year the free-to-play gaming market offers real money opportunities for gaming developers. One of the driving factors of this market is the simple fact that most of us all own smartphones and tablets which were once considered a luxury. Yahoo announced this week that it intends investing heavily into games with the launch of their Yahoo Games Network platform for developers and its Yahoo Classic Games site for online users. The main rationale for Yahoo being able to offer third-party gaming developers an advantage is simple. They claim to have over 800 million users of which 400 million are mobile uses. Given this customer base you would think that success is a sure thing. Well think again as they will have to work hard to compete with established brands like Zynga, Big Fish Games to mention a few. Besides offering developers a massive customer base Yahoo is able to offer their resources and expertise which will help developers monetize their games, authenticate players, and provide analytics and social sharing. Yahoo is trying to appeal both to developers as well as end-users, Their Yahoo Classic Games is an assortment of classic games but also includes their own branded social casino games like Yahoo Poker, and Yahoo Bingo. Here we get to the interesting part of their assortment of games on offer. Yahoo claim that all their games run “seamlessly” on both Android and iOS platforms which is an essential element of online gaming. Social casino games are featured prominently which is not surprising. One of their developers is that of Playtika , the gaming subsidiary of Caesars, with their Slotomania brand. Playtika are the first major social casino developer to feature in Yahoo’s Games Network platform. This is worth noting as they are the biggest players in the social casino market followed by IGT’s Double Down and...

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